FNGD vs MU: Correlation
Measured on weekly returns over the past three years, MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) and Micron Technology (MU) carry a correlation of -0.52, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNGD and MU?
On 3 years of weekly data the FNGD/MU correlation comes out at -0.52, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.45 over 1 year against -0.52 over 3. The 5-year figure is -0.51, and annualized covariance runs at -2506.5 %².
Among the 1743 assets we track against FNGD, MU ranks #1618 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MU ahead by 751.4 points (-55.7% versus +695.7%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FNGD vs MU: side by side
| FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | MU (Micron Technology) | |
|---|---|---|
| 1-year return | -55.7% | +695.7% |
| 5-year return | -99.4% | +1211.2% |
| Volatility (ann.) | 75.7% | 63.3% |
| Beta vs S&P 500 | -4.54 | 2.47 |
| Max drawdown (3Y) | -97.6% | -57.6% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 21.2 |
| Dividend yield | 0.00% | 0.06% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FNGD | MU |
|---|---|---|
| 2022 | +52.2% | -45.9% |
| 2023 | -90.1% | +71.9% |
| 2024 | -76.6% | -1.0% |
| 2025 | -61.4% | +240.2% |
| 2026 | -49.5% | +227.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNGD and MU good diversifiers for each other?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNGD and MU?
Using weekly returns as of 2026-08-27: -0.52 over 3 years, with -0.45 over the last year and -0.51 over 5 years.
Is MU a good diversifier for FNGD?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
What does a correlation of -0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fngd-vs-mu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fngd-vs-mu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNGD correlations · MU correlations
